Deep Tide TechFlow News, July 14, according to Forbes, Hungary has implemented the world's strictest cryptocurrency regulations, with new laws taking effect on July 1 that could classify digital asset trading as a criminal offense. Under the new regulations, individuals using unauthorized cryptocurrency exchanges could face up to two years in prison, while large transactions could result in a maximum sentence of five years.

Digital bank Revolut has announced an immediate suspension of its cryptocurrency services in Hungary, affecting over 2 million Hungarian users. Industry experts estimate that around 500,000 Hungarian citizens hold cryptocurrencies and are currently facing legal risks.